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Boeing pleads not guilty to fraud in 737 Max jet crashes

  Bloomberg Boeing Co pleaded not guilty to deceiving federal regulators about changes made to its 737 Max flight control system that led to two horrific crashes in 2018 and 2019. The airplane manufacturing giant’s arraignment in federal court in Fort Worth, Texas, marks the first time the company has been forced to publicly answer to a criminal charge connected ...

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Cebu Air flies to path of full recovery this year

  Bloomberg Cebu Air Inc. will fully restore its pre-pandemic capacity in March, putting the Philippines’ largest budget carrier on the path to “full recovery and profitability” this year, said President and Chief Commercial Officer Alexander Lao. Cebu Air probably cut its loss to 2.09-billion peso ($38.3 million) in 2022, according to street consensus, as easing of virus curbs and ...

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United Air expects Q1 net profit to more than double estimates

Bloomberg United Airlines Holdings Inc. said its first-quarter profit will be more than double analysts’ estimates, boosting shares as continued supply constraints across the industry combine with robust demand that shows no sign of slowing. Adjusted earnings will be 50 cents to $1 a share in the period, the carrier said in a statement while also detailing fourth-quarter results. That ...

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Boeing reports quarterly loss as high costs hamper recovery

Bloomberg Boeing Co reported a surprise loss to end 2022 — its sixth straight money-losing quarter — as higher costs slowed the planemaker’s recovery even though a late flurry of jet deliveries drove a surge in cash. Adjusted earnings were negative $1.75 a share in the last three months, the Arlington, Virginia-based company said in a statement. Revenue was about ...

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Vistara shelves plan to fly to US on 787 delivery delays

  Bloomberg Singapore Airlines Ltd.’s Indian venture has shelved plans to start direct flights to the US following disruptions in the deliveries of Boeing Co.’s 787 Dreamliner aircraft. “We were discussing US at one stage,” Vistara Chief Executive Officer Vinod Kannan said at a virtual press meet. “We have had to put that on hold after the fact that 787s ...

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Virgin Australia plans to interview bankers for 2023 IPO in February

  Bloomberg Virgin Australia Holdings Pty Ltd. plans to interview lead underwriters starting in February for a return to public markets as soon as this year, according to people familiar with the matter. Australia’s second-largest airline and its owner Bain Capital will interview banks from the end of next week for joint lead manager roles assisting the company to list ...

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Rocket Lab launches for first time from new Virginia facility

Bloomberg Rocket Lab USA Inc. launched its first rocket to space from the Virginia coast. At 6 pm local time, an Electron rocket took off from the company’s new launchpad, located on Wallops Island, Virginia, carrying a trio of small satellites to orbit. Rocket Lab, based in Long Beach, California, is mainly focused on launching small satellites. It has conducted ...

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Airbus seeks outside investors for Zephyr high-altitude drone

  Bloomberg Airbus SE is seeking outside investment for its high altitude solar-powered drone program called Zephyr in order to accelerate the commercialisation of the technology. The planemaker has hired Morgan Stanley to lead to the process of finding investors, a spokesman said in an email. Airbus will continue to own a stake in the unit, which will be renamed ...

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Boeing lobbyist’s DC clout may bring back Max sales to China

  Bloomberg Boeing Co.’s rainmaker in Washington, a former auto lobbyist who goes by the nickname “Z,” is restoring some of the swagger that once made the aerospace giant a force on Capitol Hill. A badly needed legislative victory in late December let Boeing continue plans for its cash-cow 737 Max over the protests of family members of victims of ...

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SpaceX conducts dress rehearsal for Starship rocket system

Bloomberg SpaceX filled its Starship rocket and massive booster with extremely cold propellant for the first time stacked together, a crucial test of its new deep-space launch system ahead of its first orbital launch attempt. The procedure, conducted at the company’s Starbase facility in Boca Chica, Texas, is known as a wet dress rehearsal and is meant to run through ...

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